Right now “faith is needed more than ever” in the world, according to U.S Senator Herb Kohl (D-Wis).
Faith means “more than religious lessons” we’ve received. It’s about “beliefs, values and hard work” that will build “a solid foundation for a healthy life,” Kohl told a crowd of more than 150 on Monday, May 2, at the Milwaukee Jewish Federation’s Economic Forum.
One speaker in the forum’s 2004-05 series, Kohl delivered “A Washington Update from Wisconsin’s Senior Senator” at the Jewish Home and Care Center’s Rubenstein Pavilion.
Saying that faith is necessary also in politics, Kohl discussed the economic conditions of the country and the congressional budget plans, which will, he said, “lock in the deficit” and “give less to those who need it the most.”
Under the current budget, which Kohl referred to as “a statement of priorities and who we are,” the country will accrue $600 billion in new debt each year.
Kohl named two main problems as the source of this debt; the financial health of Social Security and rising healthcare costs.
About President George W. Bush’s Social Security plan, Kohl said there is hope though the current system is “by no means broken.” Without any reform, he said, Social Security will be able to pay out full benefits for 40-50 more years, and after that, will still be able to pay about 70 percent of benefits.
Kohl called the increasing healthcare costs the “number one concern of American families,” and suggested reforms, such as introducing competition into the market of prescription drugs, the re-importation of prescription drugs, and instructing Medicare to negotiate for drug discounts.
Kohl, who has been with the U.S. Senate since 1988, was the president of Kohl’s food and department stores, from 1970-1979. He purchased the Milwaukee Bucks basketball team in 1985.
Sponsored by the federation, the Economic Forum features speakers on topics that appeal to the business and professional community.
The 2004-05 series has also featured Jeffrey A. Crawford, attorney general for the Forest County Potwatomi Community, and Marc J. Marotta, secretary of the Wisconsin Department of Administration.
Brian J. Stark is forum chair. The series is co-sponsored by Green Realty Company, Sattell Johnson Appel and State Financial Bank.
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